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Customer value co-creation behavior is promising but undertheorized. To bridge this gap, this study examines the viability of a social cognitive theory positing that customers' value co-creation behavior is shaped by their co-creation experience, self-efficacy, and engagement.

Using healthcare as a case, a stratified random sample comprising 600 patients from 40 hospitals across eight metropolitan cities in an emerging economy was acquired and analyzed using co-variance-based structural equation modeling (CB-SEM).

Customers' co-creation experience has a positive impact on their co-creation self-efficacy, co-creation engagement, and value co-creation behavior. While co-creation self-efficacy and engagement have no direct influence on value co-creation behavior, they do serve as mediators between co-creation experience and value co-creation behavior, suggesting that when customers are provided with a co-creation experience, it enhances their co-creation self-efficacy and engagement, ultimately fostering value co-creation behavior.

A theory of customer value co-creation behavior is established.

The paper aims to provide a career perspective on self-employment (SE) by focusing on how engaging in SE shapes the career experiences of MBA graduates in a distinct cultural and institutional context.

We thematically analyse interviews with 29 Indian MBA graduates (including 10 women) who have engaged in both SE and salaried employment, using the conservation of resources (COR) theory as the theoretical framework.

Participants took up SE in a challenging institutional and cultural environment. Resources such as financial stability, social networks and family support enabled participants to pursue SE. Participants noted that the SE experience boosted their psychological resources, providing them with greater confidence, perseverance and self-awareness. Participants observed that SE had a negative impact on subjective career success (SCS) dimensions of financial success and positive work relationships but positively impacted other SCS dimensions such as entrepreneurship, learning and development, positive (social) impact and work–life balance (particularly for women).

Participants were highly educated with strong social networks from past work experience in a developing economy, so the transferability of the findings to other contexts may be limited.

Individuals could benefit from considering a broader career canvas that includes SE as a career option. Policymakers should work towards removing institutional barriers and changing cultural perceptions towards SE.

Our study is distinct in that it comprises participants who had engaged in both SE and salaried employment during their careers. Few studies have looked at the impact of one employment episode on another. We show that SE episodes can contribute to career sustainability by developing psychological resources.

The learning outcomes are as follows: understanding strategic decision-making in EdTech: students will analyse the dynamics of strategic decision-making in the EdTech sector, exploring the rationale behind Unacademy’s shift from online to offline learning; assessing business model transformation: learners will evaluate the challenges and opportunities associated with Unacademy’s transformation from an online-centric model to venturing into physical coaching centres, and this includes considerations of market trends, competition and financial implications; managing competitive dynamics: students will examine the competitive landscape in the Indian EdTech sector, comparing Unacademy’s offline move with industry players, and this objective aims to enhance students’ ability to assess competitive strategies and positioning; strategic response to funding challenges: participants will explore how Unacademy strategically responds to the funding winter, addressing questions of financial stability, organic growth and sustainability in a dynamic market; leadership in uncertain environments: the case aims to develop insights into effective leadership during periods of uncertainty, and students will assess Gaurav Munjal’s leadership decisions and the management team’s role in steering Unacademy through challenges.

These objectives align closely with the case’s focus on strategic management, innovation and business transformation within the context of EdTech, providing students with practical insights and decision-making skills applicable to real-world scenarios.

The case study revolves around Unacademy, a prominent EdTech player in India, undergoing a strategic shift since May 2022. Facing a decline in demand for online education, the company ventured into the offline learning space by establishing physical coaching centres, directly competing with established offline and hybrid players. The case spans the period from the strategic pivot in 2022 to the challenges faced during the funding winter. The protagonist is Gaurav Munjal, the CEO of Unacademy, leading the management team amidst uncertainties.

The case is designed to teach strategic management in the EdTech sector, focusing on the challenges associated with entering the offline education space, particularly without prior experience and amid stiff competition. It explores questions of achieving organic growth, ensuring profitability and making strategic decisions during a funding winter. The industry context is EdTech in India, and the sub-fields of academia include strategic decision-making, business model transformation and competition dynamics within the education sector.

Level and field of study: The case is designed for MBA students with a focus on strategic management, innovation and the EdTech sector. It can also be suitable for executives participating in short courses on business strategy and organizational transformation.

This case is structured for Undergraduate, Postgraduate, MBA and Management Development Programs, aiming to enhance learning in the strategy field through real-world insights and challenges encountered in a dynamic business environment.

Teaching notes are available for educators only.

CSS11: Strategy.